Cullinan Finance was a

Structured investment vehicle A structured investment vehicle (SIV) is a non-bank financial institution established to earn a credit spread between the longer-term assets held in its portfolio and the shorter-term liabilities it issues. They are simple credit spread lenders ...

(SIV) run by

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

with total asset portfolio around US$27 billion. It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously led the SIV-rating department at

Moody's Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its histo ...

. It was notable for growing faster than any other SIV so far and was as of 2007 one of the six largest SIVs. On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion. As of 2008, Cullinan Finance Limited is in liquidation.

References

HSBC {{finance-company-stub